For LeafLink, a B2B marketplace of cannabis suppliers and retailers, the color of money is green.
Recently, LeafLink, a wholesale cannabis platform, announced it had secured $100 million in financing led by CPMG, L2 Ventures and Nosara Capital, alongside participation from existing investors.
LeafLink claims to serve 50% of the U.S. wholesale cannabis industry across 30 markets. The new enables LeafLink to “support its customers’ evolving technology and operational needs through enhanced platform functionality.”
“As states across the U.S. continue to legalize cannabis, we’re looking forward to growing our partnership with the industry,” says LeafLink president and CEO Artie Minson. “Our continued goal is to help brands and retailers scale their businesses while operating safely, efficiently and in compliance.”
Connecting 8,400 marijuana merchants with brands and distributors
LeafLink, a New York B2B marketplace founded in 2016, connects about 8,400 marijuana retailers with 3,700 cannabis brands and distributors.
For sellers, the marketplace platform enables them to access a real-time inventory menu, enter orders on behalf of buyers, log sales activities, and receive and approve inbound orders. In addition, sellers can track order status, share details with customers, and track upselling and cross-selling activities and opportunities ,among other features.
For buyers, marketplace tools include order and reorder management, customer support, order-tracking. and the ability to request samples.
LeafLink says it has now raised more than $450 million in investment funds.
The company also says its marketplace platform processes more than one billion transactions annually, valued at about $4.5 billion.
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